Wadhwani Foundation, Cyient, and Xynteo’s Vikaasa announced a partnership to support and accelerate the growth of small and medium healthcare enterprises. Spearheaded by Wadhwani Foundation’s – Advantage programme and Project Tej (led by Xynteo’s Vikaasa partnership), the collaboration will enable emerging healthcare enterprises to overcome systemic challenges in the Indian healthcare innovation ecosystem.
There are substantial investments in the public and private healthcare sectors, but there is a gap in market access and clinical validation for innovations. This partnership aims to address these gaps by forging transformative partnerships, catalysing capital and building capacity for enabling the growth of MedTech companies. The collaboration will support growth-oriented small and medium enterprises (SMEs) in the healthcare ecosystem-scale faster. The partnership will undertake two programmes – setting up a hospital cohort and a MedTech cohort. The coalition will also be launching a position paper focused on recommendations to promote innovation and scale-up of SMEs in the healthcare space.
The hospital cohort programme: TransformHealth, developed in partnership with Wadhwani Foundation, Cyient and Xynteo’s Vikaasa, is designed to provide access to expertise, facilities and support towards technology enablement and building capabilities for sustainable growth of hospitals. In addition, the MedTech cohort will focus on scaling and market access for MedTech SMEs across India.
Commenting on the initiative, Samir Sathe, EVP, Wadhwani Advantage said, “Wadhwani Foundation is excited to partner with Xynteo’s Vikaasa and Cyient to conduct round table discussions and expert sessions, provide one-on-one advisory, co-create interventions and strategies for our life science and healthcare SME-beneficiaries, to accelerate their growth.”
The Hospital cohort programme: TransformHealth is designed by Voice of Healthcare (VOH). The programme will offer the participants guided training and assistance by experienced advisors and experts, fundraising and business support. In addition to this, they will also have access to the peer network for cross-learning and will be supported to monitor their progress in a structured way. All participating SMEs who complete the ‘Hospital Cohort’ will be provided with certification.
Krishna Bodanapu, Managing Director & CEO at Cyient, said, “Cyient is excited to partner with the Wadhwani Foundation and Xynteo’s Vikaasa to launch TransformHealth, and support hospitals in their journey of technology adoption. We strongly believe technology can be a great enabler to medical professionals for improving treatment modalities. This program will help hospitals understand the impact of digital health, encourage them to adopt new technology, and improve the patient experience. We also look forward to their collaboration with ProjectTej to validate new technologies as testbed partners.”
Vipul Kumar, Director, Xynteo’s Vikaasa, said, “We are committed to fostering collaboration to accelerate healthcare innovations making it more accessible and scalable. Backed by our strong partnerships with Wadhwani Foundation and Cyient, we aim to fast-track market access for medical innovations to democratise diagnostic healthcare by using technology to provide high-quality healthcare solutions across India.”
This partnership will facilitate the SMEs to accelerate their digital transformation journey and grow their business by up to five times their current size. In addition, the partnership will also build a robust line of trained workforce through a digital learning management system, helping the SMEs to scale their business.